Lease Sale 238
August 20, 2014
Western Gulf of Mexico Planning Area Lease Sale 238 was held in New Orleans on August 20, 2014. Sale 238, just completed, resulted in 93 bids, by 14 companies, on 81 tracts, for a total of $135,463,114. The total sum of apparent winning bids was $109,951,644, on approximately 0.4 million acres. The last western sale in 2013, Sale 233 resulted in 61 bids, by 12 companies, on 53 tracts, for a total of $144,685,246. The total sum of apparent winning bids was $102,351,712, on approximately 0.3 million acres.
The big players, in terms of number of tracts bid on, are:
- BP Exploration & Production Inc. - 32 bids
- BHP Billiton Petroleum (Deepwater) Inc. - 16 bids
- ConocoPhillips Company - 11 bids
- Venari Offshore LLC - 6 bids
In terms of total amount exposed, we have:
- BP Exploration & Production Inc. - $42.3 million
- Chevron U.S.A. Inc. - $25.8 million
- ConocoPhillips Company - $24.0 million
- BHP Billiton Petroleum (Deepwater) Inc. - $23.7 million
In terms of total amount of high bids, we have:
- Chevron U.S.A. Inc. - $25.8 million
- ConocoPhillips Company - $23.4 million
- BP Exploration & Production Inc. - $22.8 million
- BHP Billiton Petroleum (Deepwater) Inc. - $21.9 million